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published 3 Oct 2017 [Answer Published]","attribution":{"prepared_by":"ESMA","published_by":"ESMA","published_in":"ESMA Q&A tool","document_type":"qa_answer","legal_nature":"not_legislation","addressees":"not stated in the document","dates":{"published_on":"2017-10-03","question_submitted_on":"2017-10-03","locators":{"published_on":"ESMA Q&A Excel export ESMA_QA_1829, column 'Esma responses', date line","question_submitted_on":"ESMA Q&A Excel export ESMA_QA_1829, column 'Date of submission'"}},"adoption":null}},"provenance":{"official_url":"https://www.esma.europa.eu/publications-data/questions-answers/1829","check":{"result":"matched","checked_at":"2026-10-26","against":"the ESMA publication"},"repo_path":"spaces/mifid-ii/level-3/q-and-a/esma/esma-qa-1829-information-on-cost-and-charges.md","body_sha256":"c642c5b4e01cce9a8775f6bff1bd36d4b517d8a682633014d91aa2cb09cf1a0e"},"units":[],"markdown":"---\ntitle: \"ESMA Q&A 1829 — Q&A — Information on cost and charges [Answer Published]\"\nshortTitle: \"ESMA Q&A 1829 — Q&A — Information on cost and charges [Answer Published]\"\nanswer_id: ESMA_QA_1829\ntopic: \"Information to clients on costs and charges\"\nstatus: \"Answer Published\"\ntype: qa\ninstrument_type: qa\nauthority: ESMA\nbinding: false\nbinding_character: non_binding\nlegal_status: in_force\nregulation: \"MiFID II\"\nmifid_level3: true\nmica_level2: false\nlegal_basis: \"MiFID II\"\ndate: 3 October 2017\nsource_link: https://www.esma.europa.eu/publications-data/questions-answers/1829\nlifecycle: \"Answer Published\"\ntext_version: \"ESMA Q&A register, 3 October 2017\"\nsource_url: \"https://www.esma.europa.eu/publications-data/questions-answers/1829\"\ncheck_status: matched\nverified: true\nlast_checked: 2026-10-26\nchecked_against: \"the ESMA publication\"\nsource:\n  prepared_by: \"ESMA\"\n  published_by: \"ESMA\"\n  published_in: \"ESMA Q&A tool\"\n  evidence:\n    prepared_by: \"ESMA Answer\"\n    locator: \"ESMA Q&A entry ESMA_QA_1829: field 'ESMA Answer', no 'Answer provided by' line\"\ndocument_type: \"qa_answer\"\nlegal_nature: \"not_legislation\"\naddressees: \"not stated in the document\"\ndates:\n  published_on: \"2017-10-03\"\n  question_submitted_on: \"2017-10-03\"\n  locators:\n    published_on: \"ESMA Q&A Excel export ESMA_QA_1829, column 'Esma responses', date line\"\n    question_submitted_on: \"ESMA Q&A Excel export ESMA_QA_1829, column 'Date of submission'\"\nlifecycle_label: \"Answer Published\"\n---\n\n**Answer by ESMA, published in its Q&A tool · not legislation · published 3 Oct 2017 [Answer Published]**\n\n*Answer Published · ESMA Q&A register, 3 October 2017 · Checked against the ESMA publication on 26 Oct 2026 · [Official source](https://www.esma.europa.eu/publications-data/questions-answers/1829)*\n\n| | |\n|---|---|\n| **Full title** | ESMA Q&A 1829 — Q&A — Information on cost and charges \\[Answer Published\\] |\n| **Prepared by** | ESMA |\n| **Published by** | ESMA, in the ESMA Q&A tool |\n| **Reference** | ESMA_QA_1829 |\n| **Document type** | Q&A |\n| **Legal nature** | Not legislation |\n| **Addressees** | Not stated in the document |\n| **Dates** | Published 3 October 2017; question submitted 3 October 2017 |\n| **Legal basis** | MiFID II |\n| **Related instruments** | None recorded |\n| **Text on this page** | Word for word — the full text of the ESMA publication |\n\n**Information on cost and charges**\n\n### Question\n\nHow should investment firms identify and disclose mark-ups and structuring costs embedded in the transaction price (Recital 79 of the MiFID II Delegated Regulation)?\n\n***\n\n### Answer\n\n\\[ESMA 34-43-349 MiFID II Q&As on Investor protection Ch. 9, question 17\\]\n\nAccording to Recital 79 of the MiFID II Delegated Regulation, practices where there is ‘netting’ of costs should not be excluded from the obligation to provide information on costs and charges. As a result, mark-ups and structuring costs that are embedded in the transaction price need to be identified and disclosed to clients by the investment firm. Based on Recital 79, investment firms should identify such costs by calculating the difference between the price of the position for the firm and the price for the client. In case of PRIIPs, ESMA would expect the investment firm to apply the calculation methodology in paragraphs 36 to 46 of Annex VI of the PRIIPS RTS.\n\n***\n\n**Source:** [ESMA original document](https://www.esma.europa.eu/publications-data/questions-answers/1829)\n"}